_______________ occurs when production shifts to more efficient producers for reasons of
comparative advantage, allowing consumers access to more goods at a lower price than would have
been possible without integration.

Related MCQs

• _______________ occurs when trade shifts to countries in the group at the expense of trade with countries not in the group, even though the nonmember country might be more efficient in the absence of trade barriers.
• A _______________ focuses on eliminating internal tariffs with member countries levying a common external tariff on goods being imported from nonmembers. Additionally, this type of regional economic integration allows free mobility of production factors such as labor and capital.
• According to the principle of comparative advantage:
• The theory of comparative cost advantage is given by
• The theory of Comparative cost advantage is given by
• Porter suggests the following reasons for one nation being more competitive than another
• Horizontal integration occurs when
• In which of the following types of regional economic integration are internal tariffs eliminated with member countries levying a common external tariff on goods being imported from nonmembers.
• Comparative Cost Trade Theory is given by
• _______________ is an important reason for economic integration.